NEW YORK-- Even while the cause remains unknown, a deadly blast that leveled two buildings served by a 127- year-old gas main has provided a jarring reminder of just how old and vulnerable much of the infrastructure is in New York and many other cities nationwide.» Read More
Millions of Americans will drive their cars to visit family and friends over the Thanksgiving holiday, even though gasoline is above $3.00 per gallon, travel and leisure group AAA said Thursday.
Here's what we're focusing on throughout the day: Oil took a dive after inventory data showed an unexpected build in supply. Oil was also moving lower earlier after OPEC cut its demand forecast for the fourth quarter Core CPI for October rose 0.2%, in line with expectations. Oil is lower this morning , following comments earlier this week from the IEA. Inventory data was due at 10:30 a.m.
US stocks closed an uneasy session lower as investors, uncertain if the worst of the credit crisis is over, refrained from extending Tuesday's huge advance.
OPEC said on Thursday it sees a modest downturn in the U.S. economy in the fourth quarter due in part to record high oil prices, but booming growth in China and the Middle East will keep world oil demand strong.
China National Offshore Oil Corp has been offered Royal Dutch Shell's oil business in Australia's North West Shelf oil and gas project, The Australian newspaper reported on Thursday.
Australian oil and gas producer Woodside Petroleum cut its 2008 production forecast by up to 20 percent on Thursday, citing recent asset sales and slow start-ups at new projects, driving its shares down as much as 5 percent.
Forget about L.A. being tinsel town, and style capital. At this year's Los Angeles Auto Show the automakers are trying to wrap themselves in the "Green Leaf" of fuel efficiency. Ford announced a new sustainability plan that will include developing direct injection gas engines, lighter cars, and more hybrids.
Oil giant BP announced on Wednesday a major gas-condensate discovery in Azerbaijan's Shah Deniz field in the Caspian Sea, which field partner StatoilHydro said could double the field's output.
The good news is that inflation is less of a worry. The bad news is that economic growth is more of one. The change in perception comes as investors prepare for key inflation data this week.
Why the rally? Let me count the ways: 1) Stocks oversold (financials in particular over-shorted). 2) Oil drops (helping overall market). 3) Wal-Mart does not lower guidance for the fourth quarter (retailers rally).
Not long ago, it was the perfect storm driving up the price of oil. Today, there's a new reality in the market and it's the fear that the global economy is raining on super high oil prices. Oil on the NYMEX was down more than $4 in afternoon trading and was closing in on the $90 per barrel level. The all time high of $98.62 per barrel was hit just last week.
Strong earnings and a better forecast from Wal-Mart is giving a boost to stocks this morning after a mixed picture in overseas markets. The dollar is weaker this morning and gold is recovering some ground after yesterday's sell-off.. Asian stock markets were mixed, with Tokyo closing about a half a percent lower. European markets were moving lower.
Also, viewer questions on E*TRADE, Foster Wheeler, the nuclear power industry and crude oil.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
If you believe in oil over the long-term the way Cramer does, this is the stock for you.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
As I fly into the Los Angeles Auto Show, I'm wondering if this year's show and the slew of "green" models being rolled out will matter to people. Don't get me wrong, I think there is a growing appetite among buyers for hybrids and fuel cell cars. But the new models being introduced don't stand out.
An OPEC summit this week will not act on production policy, Saudi Arabia's oil minister said on Tuesday, reducing the prospect of an imminent output boost to lower record prices.
The International Energy Agency on Tuesday sharply reduced its forecast for oil demand growth through the rest of 2007 and into 2008 saying oil's march towards $100 was already slowing consumption.
The average price U.S. consumers pay for gasoline should rise by another 20 cents a gallon over the next two to three weeks, because not all of the recent jump in crude oil prices has been passed on to consumers at the pump, the EIA said.
Saudi Arabia, the world's top oil exporter, said on Sunday that it was premature to talk about an OPEC increase in oil output but group members would discuss the issue at an upcoming meeting.
Extreme volatility will likely rip the stock market again in the coming week, while investors consider some fresh economic data and a last blast of earnings news. Tuesday marks one month to the day before the Fed's next rate meeting.